Thailand’s consumer price index rose 7.61% in July, inflation forecast for 2022 revised to 5.5-6.5%

The Commerce Department’s Office of Trade Policy and Strategy (OCP) reported that the general consumer price index (CPI), or headline inflation, was 107.41 in July, up 7.61% from the same period last year. Compared to June, there was a slight decrease of -0.16%. Average headline inflation for the first 7 months increased by 5.89%.

“For the first time in a year, inflation dropped from the previous month. This is a result of the Ministry of Commerce’s continued price fixing and intensive care for the cost of living for the consumer base. As a result, product prices remained stable,” said the director of the Office of the Public Health Commission.

Meanwhile, the core consumer price index (CPI) was 103.50 in July, up 2.99% year-on-year and 0.50% higher than in June.

The NPO has revised its inflation forecast for this year from 4.0% to 5.0% to 5.5% to 6.5%, or an average of 6%, to reflect the current economic situation.

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